Home Insurance – It’s in the details

Home insurance property protection protects your home and personal belongings from fire, theft, vandalism and many other perils. Not having the right coverage in place can quickly turn a small incident into a costly disaster.

Dwelling/Coverage-A

Typically covers repairing or replacing your damaged or destroyed home, including attachments, such as garages or decks.

Other structures/Coverage-B:

This is coverage to repair or replace other permanent, separate, unattached structures on your property, like a detached garage, workshop, or attached fence.

If you have multiple structures, rent out any of them, or use them for a home business, talk to your agent about getting additional coverage.

Personal property:

This includes coverage for your furnishings and personal items, such as your TV, stereo, clothing, dishes, etc. Make sure your policy is set up so you will be reimbursed the full value of your property.

Your policy may include limited coverage for items such as jewelry, collectibles, art, silver, etc. If you have these types of items, talk to us about buying additional coverage or increasing your limits.

Loss of use or additional living expenses:

This pays for living expenses over and above your normal living expenses if your house is damaged or destroyed, and you need another place to stay.

Additional coverages:

Your policy generally includes additional limited coverage for debris removal, damage to trees, plants and shrubs. It also could include credit-card coverage, which protects you if someone steals your credit card and makes unauthorized charges. Check with your agent or insurance company to see if additional coverages are available.

Ways to save money on Homeowner’s Insurance

The best place to start saving money on your home insurance is to let us compare your current policy to other available options. There are certain things that you can do in order to save money on your home insurance on the short and long-term.

Make sure that you aren’t overinsured

While we often find homes that are underinsured, we also see existing coverages that are too high. Home insurance is usually based on replacement cost of the structure which also includes the demolition of the current structure. It does NOT include the value of the land.We use different third party vendors before insuring home to make sure that you have coverage that matches the need.

Avoid unnecessary claims

Before calling your insurance company to inform them that your car was broken into and some items were stolen, please call us first. Your loss may be less than your deductible but just calling your insurance company can sometimes result in a claim added to your 5-year history.

Don’t leave any valuables in your vehicle, gym bag, or other unsupervised areas.- Is that neighbor’s tree branch hovering over your roof, fence or shed? Should that tree damage your property, it is your insurance that will have to pay for it. So make sure that no heavy tree limbs (yours or your neighbors) close to your property.

Maintain your home to provide a safe environment, especially around the outside of your home. You might have heard about court cases where home intruders were able to sue their victims for injuries they sustained during a home invasion. In today’s heavily litigated environment, don’t give anyone a reason to blame you for their injuries.

Make sure that your railings are secure and up to code, that you de-ice the ground that is open to the public, and don’t leave any trip hazards or dangerous items that might be interesting to children.

Let your neighbors or friends know when you leave for vacation. It might be wise to have someone check the interior to make sure no water leak or other damages have occurred.

Combine your Home with your Auto Insurance

You hear commercials on TV all the time about how much money can be saved by combining auto and home insurance. This is usually true and the advantage of working with an independent agency like the DOK Insurance Agency is that we check with different companies for both auto and home to find the best package for you.

Get a monitored alarm and/or surveillance system

While the discount on your home insurance will be minimal compared to the cost of the monitoring service, the peace of mind and added safety for your family makes it well worth it. For the discount, please keep in mind that most insurance companies will require that your system is actively monitored and sometimes even with a power back-up.

Increase your deductible

Changing your deductible from $1,000 to $2,500 might only save you 10% on your insurance. While the savings alone may not be significant, it comes down to your attitude and mindset towards insurance as well as your financial means. If a $2,500 deductible – so money you have to pay before the insurance kicks in – is too high for you to handle, do not increase your deductible. If, however, you can both afford a higher deductible as well as try to avoid filing claims, a higher deductible might be a good option.

Choose your dog breed wisely

Most people love their pets and go through great lengths to make sure that they are well behaved and pose no threat to others. However dog bite losses exceed $1 billion per year. In 2015, 35 Americans were killed by dogs, down from 42 the prior year.Each year, more than 350,000 dog bite victims are seen in emergency rooms, and approximately 850,000 victims receive medical attention.

Data that the CDC collected in the USA between 2001 and 2003 indicated there were 4.5 million dog bite victims per year, but that figure appears to be rising.Although insurance companies only pay for a small percentage of dog bite incidents, they still pay over $350 million to victims.

The payouts have increased by 55.3 percent in the past decade. The main reason why most dog bites don’t result in a (home) liability insurance payout is that the victims are often family members.

Below you can see the main dog breeds that were responsible for deadly attacks in the last 12 years. So if you own or are planning on becoming an owner of a pit-bull, Rottweiler, Husky, Dolberman or other breeds listed below, please consider how this may affect your home insurance.

US Dog Bit Fatalities

What’s not covered under homeowner insurance

Don’t be surprised: There are several major risks that a standard homeowner policy does not cover. If you face these risks, you should strongly consider buying additional coverage.

Earthquake insurance

This coverage provides for repair or replacement of your home due to an earthquake. Please contact us to find out more about your earthquake insurance options.

Flood insurance

You’ll need flood insurance to cover you against floods, flood-related erosion, abnormal tidal surges and rise in groundwater. We are a registered Flood Insurance Agency so we are here to help.

Homeowner insurance and land movement or landslides

Homeowner policies usually don’t cover damage due to land movement or landslides. There are limited options under what is commonly called a “Difference in Conditions” policy which we can help you with.

Homeowner insurance limitations for mold

Some companies will allow you to buy additional coverage for mold related damages to your home. Mold is generally caused by gradual moisture and water flow over an extended period of time and hence falls under maintenance related limitations and/or exclusions.

Volcano coverage for your home and auto

Not all damage caused by a volcanic eruption is covered under your homeowner policy – you may need more coverage. Please don’t hesitate to contact us to find out more.